The Supreme Court questioned the Reserve Bank of India’s (RBI) regulative package requiring the extension of payment of interest on bank loans after the three-month moratorium throughout the pandemic lockdown is raised.
” On one hand approving moratorium and then payment of interest … This is damaging … These are unmatched times … These are not regular times,” Justice Sanjay Kishan Kaul orally said during the virtual court hearing.
Justice M.R. Shah, likewise on the Bench led by Justice Ashok Bhushan, questioned what relief had ultimately been given if loan interest continued to accrue for the moratorium duration.
